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Hanes Corp. issued bonds three years ago with an original maturity of 15 years. These bonds carry a coupon of 4.2% and pay interest semiannually.

Hanes Corp. issued bonds three years ago with an original maturity of 15 years. These bonds carry a coupon of 4.2% and pay interest semiannually. At the time of issue, the bonds sold at par. However, their yield has risen by 125 basis points since their issue. What must these bonds be trading for today?

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